The relationship between x and y in the temperature example is deterministic because once the value of x is known, the value of y is completely determined. In contrast, all the other relationships listed in the table above have an element of randomness in them.

Custom information technology co. ltdIn Excel, select “Data Analysis” under “Tools,” and select the multiple regression option. Input the data for the dependent variable (Y) and the independent variables (X). In our example, price is the dependent variable, in the left-most column, and the price of bran flakes, milk, and the income of consumers are the independent variables.

Data preparation consists of the below phases. Regression analysis: For understanding the strong relationship between two variables, researchers do not look beyond the primary and commonly used regression analysis method, which is also a type of predictive analysis used.